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6/21, 10:22 AM (Source: TeleTrader)
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Kerry Group to acquire Niacet for $1 billion

Ireland-based food company Kerry Group plc announced on Monday it reached a definitive agreement to purchase preservatives maker Niacet Corp. for $1.01 billion.

The transaction is expected to close by the end of the third quarter of 2021 and is subject to customary closing conditions and regulatory approvals.

"The acquisition of Niacet's complementary product portfolio enhances our leadership position in the fast growing food protection and preservation market and significantly advances our sustainable nutrition ambition. Niacet is a business with market leading positions, differentiated technologies and a strong and highly experienced management team," Kerry CEO Edmond Scanlon said.

Breaking the News / MD